4 ms·

How many less rentals are there now than there were before Airbnb? how many are foreign investor owned? Personally I think you should not be allowed to own a p

How many less rentals are there now than there were before Airbnb? how many are foreign investor owned? Personally I think you should not be allowed to own a property without citizenship and without a primary residence within 1k mile radius. Also businesses should not be allowed to own residential unless they're a bank and it's a foreclosure. How many investors set up shell accounts just for real estate investments?

miguelazo 3y ago
This is a HUGE factor and deliberately obscured by real estate interests and their YIMBY allies.
- legitster 3y ago
  > real estate interests and their YIMBY allies. What? Real estate interests are notoriously and by their nature NIMBY. Almost all opposition to upzoning comes from homeowner groups to protect property values.
  - miguelazo 3y ago
    I was referring to developers and their sales agents.
legitster 3y ago
If Airbnbs were having a significant impact forcing people out of homes, we would see it as an increase in the vacancy rate - but overall vacancy rate is still dropping like a rock in the US: https://www.census.gov/housing/hvs/current/index.html https://www.census.gov/housing/hvs/current/index.html And FWIW, the Census has not found a significant increase in the number of vacation properties in the last few decades: https://www.census.gov/data/tables/time-series/dec/coh-vacation.html https://www.census.gov/data/tables/time-series/dec/coh-vacat... The foreign ownership thing seems like a bit of a distraction. They don't seem to have significant impact on vacancy rates - they are still insanely low even in places like NY and SF. And to the extent that they are buying up properties as speculation that seems like a symptom of supply constraints more than a cause of.